They really don't have the power or right to place any kind of lien on the property while they simply have it under contract and aren't doing any improvement to the property. 

Not having individual meters is simply unprofessional.

In a Subject To, it's simply taking over payments.

The biggest issue I observe amongst real estate investors is the inability to articulate the reasons why they should transfer properties or simply own properties from day 1 in an LLC.

If you are able to successfully conclude a trade without the use of an intermediary, such as a broker, you of course save the brokers commission.  

Simply letting your mother live in the property rent free would make it personal property. 

You are simply NOT operating correctly.

I don't think I fully understand using HELOC to pay points and holding costs only.Taz, that was my initial thought as well - even though it would hurt to get rid of a 3.5% interest rate, I could get an equivalently priced home with today's conventional primary residence rates and have about the same monthly payments that I have today, simply because of the HOA fees. 

If not, do you materially participate in the syndication or are you simply a limited partner?

Simply document your attempts to remedy the issue.